New Delhi, Aug 15 (IANS): In an effort to address the challenge of more than 40,000 vacant flats within its inventory, the Delhi Development Authority (DDA) has taken the help of a private consultancy firm to revitalise the housing market approach.
According to information, for the first time since its establishment in 1957, the DDA has partnered with a private real estate consultancy to rejuvenate its presence in the city's housing market.
Speaking with IANS, a DDA official said that it was being done to simplify the proceess and give it a professional touch which will help the Authority and homebuyers both.
In basic terms, the consultant's task will involve examining and assessing the data from the DDA concerning the effectiveness of its housing schemes, housing standards, and pricing methods.
The agency will present its discoveries in a report to the DDA, which will encompass vital suggestions for the DDA to contemplate and potentially put into action.
According to DDA officials who didn't wish to be named said that the housing market has undergone a transformation, providing homebuyers with alternatives from private entities.
Therefore, their conventional approach must be reevaluated, as it no longer remains effective.
They said that DDA must embrace modifications to position ourselves as pivotal participants in the housing market.
A standard DDA housing scheme entails specific prerequisites for potential buyers to qualify for application, ranging from not possessing a residence or land in Delhi to obtaining their preferred housing option through a randomised selection process.
While the DDA was once a significant contributor in Delhi's housing market, entrusted with the responsibility of offering economical housing, the allure of its housing schemes has gradually diminished.
Expanding on the deficiencies highlighted by past applicants who relinquished DDA flats, the official again wishing anonymity mentioned that distant locations like Narela and Rohini, elevated costs, insufficient connectivity and quality, as well as undersized accommodations, contributed to the gradual decrease in the appeal of DDA flats.